Analog Devices (ADI) FY2011 results: revenue $3.0 billion, up 8.4% on the year
Analog Devices Inc. (ADI) reported revenue of $3.0 billion for fiscal 2011, the year ended 29 October 2011, up 8.4% on the year before. Net income was $867 million, up 21.8%, and diluted earnings per share $2.81. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2011.
Revenue
$3.0 billion
+8.4% on the year
FY2007FY2011
Operating margin
35.8%
32.6% a year earlier
FY2007FY2011
Net income
$867 million
+21.8% on the year
FY2007FY2011
Diluted EPS
$2.81
+20.6% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
2,993
2,762
2,015
+8.4%
Cost of revenue
1,007
962
896
+4.6%
Gross profit
1,987
1,799
1,119
+10.4%
Gross margin
66.4%
65.2%
55.5%
Research and development
506
492
447
+2.7%
Selling, general and administrative
407
391
333
+4.1%
Operating income
1,072
900
285
+19.1%
Operating margin
35.8%
32.6%
14.1%
Interest expense
19.1
10.4
4.1
+83.6%
Pre-tax income
1,061
902
297
+17.7%
Income tax
201
190
50.0
+5.3%
Effective tax rate
18.9%
21.1%
16.8%
Net income
867
712
248
+21.8%
Net margin
29.0%
25.8%
12.3%
Diluted EPS
$2.81
$2.33
$0.85
+20.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
901
991
432
-9.1%
Capital expenditure
123
112
56.1
+10.3%
Free cash flow
778
880
376
-11.6%
Free cash flow margin
26.0%
31.9%
18.7%
Cash from investing
-704
-486
-535
Cash from financing
139
-72.6
146
Depreciation and amortisation
118
121
140
-2.2%
Share-based compensation
52.4
51.8
48.6
+1.2%
Buybacks
330
39.8
3.8
+728.8%
Dividends paid
282
250
233
+12.7%
Dividend per share
$0.94
$0.84
$0.80
+11.9%
Diluted shares, weighted
308m
306m
293m
+0.8%
Shares outstanding at period end
298m
299m
292m
-0.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,795
3,200
2,529
+18.6%
Debt
886
401
380
+121.2%
Other liabilities
596
728
461
-18.2%
Total liabilities and equity
5,278
4,329
3,369
+21.9%
Fixed assets
479
473
477
+1.3%
Goodwill
275
256
251
+7.6%
Intangible assets
12.2
1.3
6.9
+808.4%
Investments
2,190
1,619
1,178
+35.3%
Cash and equivalents
1,405
1,405
1,070
0.0%
Receivables
348
387
301
-10.0%
Inventory
295
277
253
+6.3%
Other assets
273
n/a
n/a
Total assets
5,278
4,329
3,369
+21.9%
10-K for the year ended 29 October 2011, filed 22 November 2011: the filing.